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31-54 Steinway St Queens, N...

Quan Chen Leases Prime Retail Space At 31-54 Steinway St, Long Island City
LEASEDRetail

Quan Chen Leases Prime Retail Space At 31-54 Steinway St, Long Island City

31-54 Steinway St Queens, NY 11103, USA

$70

$70/SF

Building Size

2,112 SF

Asset Type

Retail

Closing

Aug 11, 2023

AI

The Barbie Li Team is delighted to announce the successful lease of a prime retail space located at 31-54 Steinway Street in Long Island City. This prominent retail space spans a size of 2,112 square feet and was leased to a distinguished franchised restaurant. The secured occupancy by this renowned restaurant adds significant value to the vibrant Steinway Street landscape. The asking rent for this retail space was $70 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not mentioned in the CONTEXT
  • Address: 31-54 Steinway Street, Long Island City
  • Market: Long Island City
  • Landlord: Hui Wang
  • Tenant: Quan Chen
  • Broker: Barbie Li - B Square Realty

This is yet another landmark deal in the bustling Astoria neighborhood. The Barbie Li Team has a strong and trusted relationship with the landlord, Hui Wang, having assisted her in acquiring and leasing out her assets in the past. With their dedication to selecting credible tenants and maximizing the value and potential of investment properties, the Barbie Li Team has established a remarkable track record in the real estate market. The lease of this prime retail space to a distinguished franchised restaurant is a testament to their expertise and commitment to their clients.

If you're a commercial investor or landlord looking to achieve success in today's dynamic real estate landscape, the Barbie Li Team is here to make your vision a reality. They offer tailored services designed to unlock the full potential of your commercial property. Join the league of successful real estate players by contacting Barbie Li at 347-628-8818. For the latest updates in Flushing Real Estate, follow @Barbie_li_ny_broker.

Players

Li Li

B Square Realty

Broker

$83.2M

vol

49 deals

Broker

Hui Wang

Landlord

$7.8M

vol

7 deals

Landlord

Market Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

226614.29%

Cash-on-Cash

-64767.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93